|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.8%
|
|||||
|
11,550,672
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$11,550,672
|
|||
|
|
(Cost $11,550,672)
|
|
|||
|
|
Total Investments — 0.8%
|
11,550,672
|
|||
|
|
(Cost $11,550,672)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 104.4%
|
|||||
|
|
Call Options Purchased — 102.0%
|
|
|||
|
19,081
|
State Street® SPDR® S&P 500® ETF Trust
|
$1,443,439,488
|
$6.92
|
01/15/27
|
1,420,690,357
|
|
|
(Cost $1,291,411,402)
|
|
|
|
|
|
|
Put Options Purchased — 2.4%
|
|
|||
|
19,081
|
State Street® SPDR® S&P 500® ETF Trust
|
1,443,439,488
|
691.66
|
01/15/27
|
34,027,147
|
|
|
(Cost $76,371,361)
|
|
|
|
|
|
|
Total Purchased Options
|
1,454,717,504
|
|||
|
|
(Cost $1,367,782,763)
|
|
|||
|
WRITTEN OPTIONS — (5.1)%
|
|||||
|
|
Call Options Written — (3.8)%
|
|
|||
|
(19,081)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,443,439,488
)
|
792.16
|
01/15/27
|
(53,612,458
)
|
|
|
(Premiums received $20,834,122)
|
|
|
|
|
|
|
Put Options Written — (1.3)%
|
|
|||
|
(19,081)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,443,439,488
)
|
622.49
|
01/15/27
|
(18,179,805
)
|
|
|
(Premiums received $43,752,543)
|
|
|
|
|
|
|
Total Written Options
|
(71,792,263
)
|
|||
|
|
(Premiums received $64,586,665)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(951,038
)
|
|||
|
|
Net Assets — 100.0%
|
$1,393,524,875
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$11,550,672
|
$11,550,672
|
$—
|
$—
|
|
Purchased Options
|
1,454,717,504
|
—
|
1,454,717,504
|
—
|
|
Total
|
$1,466,268,176
|
$11,550,672
|
$1,454,717,504
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(71,792,263
)
|
$—
|
$(71,792,263
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.9%
|
|||||
|
3,979,405
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$3,979,405
|
|||
|
|
(Cost $3,979,405)
|
|
|||
|
|
Total Investments — 0.9%
|
3,979,405
|
|||
|
|
(Cost $3,979,405)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 105.0%
|
|||||
|
|
Call Options Purchased — 103.2%
|
|
|||
|
6,644
|
State Street® SPDR® S&P 500® ETF Trust
|
$502,605,312
|
$6.91
|
01/15/27
|
494,690,514
|
|
|
(Cost $449,417,745)
|
|
|
|
|
|
|
Put Options Purchased — 1.8%
|
|
|||
|
6,644
|
State Street® SPDR® S&P 500® ETF Trust
|
502,605,312
|
657.08
|
01/15/27
|
8,642,515
|
|
|
(Cost $20,304,665)
|
|
|
|
|
|
|
Total Purchased Options
|
503,333,029
|
|||
|
|
(Cost $469,722,410)
|
|
|||
|
WRITTEN OPTIONS — (5.8)%
|
|||||
|
|
Call Options Written — (5.4)%
|
|
|||
|
(6,644)
|
State Street® SPDR® S&P 500® ETF Trust
|
(502,605,312
)
|
772.10
|
01/15/27
|
(25,681,319
)
|
|
|
(Premiums received $10,925,764)
|
|
|
|
|
|
|
Put Options Written — (0.4)%
|
|
|||
|
(6,644)
|
State Street® SPDR® S&P 500® ETF Trust
|
(502,605,312
)
|
484.16
|
01/15/27
|
(1,986,954
)
|
|
|
(Premiums received $4,858,015)
|
|
|
|
|
|
|
Total Written Options
|
(27,668,273
)
|
|||
|
|
(Premiums received $15,783,779)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(329,255
)
|
|||
|
|
Net Assets — 100.0%
|
$479,314,906
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$3,979,405
|
$3,979,405
|
$—
|
$—
|
|
Purchased Options
|
503,333,029
|
—
|
503,333,029
|
—
|
|
Total
|
$507,312,434
|
$3,979,405
|
$503,333,029
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(27,668,273
)
|
$—
|
$(27,668,273
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.9%
|
|||||
|
12,149,192
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$12,149,192
|
|||
|
|
(Cost $12,149,192)
|
|
|||
|
|
Total Investments — 0.9%
|
12,149,192
|
|||
|
|
(Cost $12,149,192)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 105.2%
|
|||||
|
|
Call Options Purchased — 102.5%
|
|
|||
|
18,586
|
State Street® SPDR® S&P 500® ETF Trust
|
$1,405,993,728
|
$6.89
|
02/19/27
|
1,384,647,335
|
|
|
(Cost $1,254,722,818)
|
|
|
|
|
|
|
Put Options Purchased — 2.7%
|
|
|||
|
18,586
|
State Street® SPDR® S&P 500® ETF Trust
|
1,405,993,728
|
689.43
|
02/19/27
|
36,514,242
|
|
|
(Cost $79,283,497)
|
|
|
|
|
|
|
Total Purchased Options
|
1,421,161,577
|
|||
|
|
(Cost $1,334,006,315)
|
|
|||
|
WRITTEN OPTIONS — (6.0)%
|
|||||
|
|
Call Options Written — (4.5)%
|
|
|||
|
(18,586)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,405,993,728
)
|
792.91
|
02/19/27
|
(61,120,247
)
|
|
|
(Premiums received $22,096,253)
|
|
|
|
|
|
|
Put Options Written — (1.5)%
|
|
|||
|
(18,586)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,405,993,728
)
|
620.49
|
02/19/27
|
(20,262,086
)
|
|
|
(Premiums received $46,451,383)
|
|
|
|
|
|
|
Total Written Options
|
(81,382,333
)
|
|||
|
|
(Premiums received $68,547,636)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(919,280
)
|
|||
|
|
Net Assets — 100.0%
|
$1,351,009,156
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$12,149,192
|
$12,149,192
|
$—
|
$—
|
|
Purchased Options
|
1,421,161,577
|
—
|
1,421,161,577
|
—
|
|
Total
|
$1,433,310,769
|
$12,149,192
|
$1,421,161,577
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(81,382,333
)
|
$—
|
$(81,382,333
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.9%
|
|||||
|
4,155,035
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$4,155,035
|
|||
|
|
(Cost $4,155,035)
|
|
|||
|
|
Total Investments — 0.9%
|
4,155,035
|
|||
|
|
(Cost $4,155,035)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 105.9%
|
|||||
|
|
Call Options Purchased — 103.9%
|
|
|||
|
6,390
|
State Street® SPDR® S&P 500® ETF Trust
|
$483,390,720
|
$6.88
|
02/19/27
|
476,057,876
|
|
|
(Cost $431,350,943)
|
|
|
|
|
|
|
Put Options Purchased — 2.0%
|
|
|||
|
6,390
|
State Street® SPDR® S&P 500® ETF Trust
|
483,390,720
|
654.96
|
02/19/27
|
9,345,247
|
|
|
(Cost $20,870,093)
|
|
|
|
|
|
|
Total Purchased Options
|
485,403,123
|
|||
|
|
(Cost $452,221,036)
|
|
|||
|
WRITTEN OPTIONS — (6.7)%
|
|||||
|
|
Call Options Written — (6.2)%
|
|
|||
|
(6,390)
|
State Street® SPDR® S&P 500® ETF Trust
|
(483,390,720
)
|
771.27
|
02/19/27
|
(28,546,942
)
|
|
|
(Premiums received $11,669,041)
|
|
|
|
|
|
|
Put Options Written — (0.5)%
|
|
|||
|
(6,390)
|
State Street® SPDR® S&P 500® ETF Trust
|
(483,390,720
)
|
482.60
|
02/19/27
|
(2,282,444
)
|
|
|
(Premiums received $5,224,767)
|
|
|
|
|
|
|
Total Written Options
|
(30,829,386
)
|
|||
|
|
(Premiums received $16,893,808)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(310,533
)
|
|||
|
|
Net Assets — 100.0%
|
$458,418,239
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$4,155,035
|
$4,155,035
|
$—
|
$—
|
|
Purchased Options
|
485,403,123
|
—
|
485,403,123
|
—
|
|
Total
|
$489,558,158
|
$4,155,035
|
$485,403,123
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(30,829,386
)
|
$—
|
$(30,829,386
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.9%
|
|||||
|
11,102,712
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$11,102,712
|
|||
|
|
(Cost $11,102,712)
|
|
|||
|
|
Total Investments — 0.9%
|
11,102,712
|
|||
|
|
(Cost $11,102,712)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 108.3%
|
|||||
|
|
Call Options Purchased — 106.1%
|
|
|||
|
16,705
|
State Street® SPDR® S&P 500® ETF Trust
|
$1,263,699,840
|
$6.49
|
03/19/27
|
1,242,806,897
|
|
|
(Cost $1,064,272,053)
|
|
|
|
|
|
|
Put Options Purchased — 2.2%
|
|
|||
|
16,705
|
State Street® SPDR® S&P 500® ETF Trust
|
1,263,699,840
|
648.57
|
03/19/27
|
25,962,577
|
|
|
(Cost $72,064,825)
|
|
|
|
|
|
|
Total Purchased Options
|
1,268,769,474
|
|||
|
|
(Cost $1,136,336,878)
|
|
|||
|
WRITTEN OPTIONS — (9.1)%
|
|||||
|
|
Call Options Written — (7.8)%
|
|
|||
|
(16,705)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,263,699,840
)
|
759.93
|
03/19/27
|
(91,953,842
)
|
|
|
(Premiums received $17,948,788)
|
|
|
|
|
|
|
Put Options Written — (1.3)%
|
|
|||
|
(16,705)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,263,699,840
)
|
583.71
|
03/19/27
|
(15,251,498
)
|
|
|
(Premiums received $42,968,419)
|
|
|
|
|
|
|
Total Written Options
|
(107,205,340
)
|
|||
|
|
(Premiums received $60,917,207)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(813,568
)
|
|||
|
|
Net Assets — 100.0%
|
$1,171,853,278
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$11,102,712
|
$11,102,712
|
$—
|
$—
|
|
Purchased Options
|
1,268,769,474
|
—
|
1,268,769,474
|
—
|
|
Total
|
$1,279,872,186
|
$11,102,712
|
$1,268,769,474
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(107,205,340
)
|
$—
|
$(107,205,340
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 1.0%
|
|||||
|
4,010,938
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$4,010,938
|
|||
|
|
(Cost $4,010,938)
|
|
|||
|
|
Total Investments — 1.0%
|
4,010,938
|
|||
|
|
(Cost $4,010,938)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 110.2%
|
|||||
|
|
Call Options Purchased — 108.5%
|
|
|||
|
6,127
|
State Street® SPDR® S&P 500® ETF Trust
|
$463,495,296
|
$6.48
|
03/19/27
|
455,838,139
|
|
|
(Cost $390,022,350)
|
|
|
|
|
|
|
Put Options Purchased — 1.7%
|
|
|||
|
6,127
|
State Street® SPDR® S&P 500® ETF Trust
|
463,495,296
|
616.14
|
03/19/27
|
7,298,666
|
|
|
(Cost $20,626,705)
|
|
|
|
|
|
|
Total Purchased Options
|
463,136,805
|
|||
|
|
(Cost $410,649,055)
|
|
|||
|
WRITTEN OPTIONS — (11.1)%
|
|||||
|
|
Call Options Written — (10.6)%
|
|
|||
|
(6,127)
|
State Street® SPDR® S&P 500® ETF Trust
|
(463,495,296
)
|
733.34
|
03/19/27
|
(44,642,792
)
|
|
|
(Premiums received $11,334,380)
|
|
|
|
|
|
|
Put Options Written — (0.5)%
|
|
|||
|
(6,127)
|
State Street® SPDR® S&P 500® ETF Trust
|
(463,495,296
)
|
454.00
|
03/19/27
|
(2,073,683
)
|
|
|
(Premiums received $5,345,996)
|
|
|
|
|
|
|
Total Written Options
|
(46,716,475
)
|
|||
|
|
(Premiums received $16,680,376)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(289,462
)
|
|||
|
|
Net Assets — 100.0%
|
$420,141,806
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$4,010,938
|
$4,010,938
|
$—
|
$—
|
|
Purchased Options
|
463,136,805
|
—
|
463,136,805
|
—
|
|
Total
|
$467,147,743
|
$4,010,938
|
$463,136,805
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(46,716,475
)
|
$—
|
$(46,716,475
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 1.1%
|
|||||
|
11,950,038
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$11,950,038
|
|||
|
|
(Cost $11,950,038)
|
|
|||
|
|
Total Investments — 1.1%
|
11,950,038
|
|||
|
|
(Cost $11,950,038)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 105.0%
|
|||||
|
|
Call Options Purchased — 101.3%
|
|
|||
|
15,506
|
State Street® SPDR® S&P 500® ETF Trust
|
$1,172,997,888
|
$7.10
|
04/16/27
|
1,152,840,863
|
|
|
(Cost $1,083,082,996)
|
|
|
|
|
|
|
Put Options Purchased — 3.7%
|
|
|||
|
15,506
|
State Street® SPDR® S&P 500® ETF Trust
|
1,172,997,888
|
710.14
|
04/16/27
|
42,256,641
|
|
|
(Cost $64,065,596)
|
|
|
|
|
|
|
Total Purchased Options
|
1,195,097,504
|
|||
|
|
(Cost $1,147,148,592)
|
|
|||
|
WRITTEN OPTIONS — (6.0)%
|
|||||
|
|
Call Options Written — (3.9)%
|
|
|||
|
(15,506)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,172,997,888
)
|
817.80
|
04/16/27
|
(43,952,997
)
|
|
|
(Premiums received $19,979,851)
|
|
|
|
|
|
|
Put Options Written — (2.1)%
|
|
|||
|
(15,506)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,172,997,888
)
|
639.13
|
04/16/27
|
(24,157,728
)
|
|
|
(Premiums received $37,614,463)
|
|
|
|
|
|
|
Total Written Options
|
(68,110,725
)
|
|||
|
|
(Premiums received $57,594,314)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(764,470
)
|
|||
|
|
Net Assets — 100.0%
|
$1,138,172,347
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$11,950,038
|
$11,950,038
|
$—
|
$—
|
|
Purchased Options
|
1,195,097,504
|
—
|
1,195,097,504
|
—
|
|
Total
|
$1,207,047,542
|
$11,950,038
|
$1,195,097,504
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(68,110,725
)
|
$—
|
$(68,110,725
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 1.1%
|
|||||
|
3,209,287
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$3,209,287
|
|||
|
|
(Cost $3,209,287)
|
|
|||
|
|
Total Investments — 1.1%
|
3,209,287
|
|||
|
|
(Cost $3,209,287)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 105.0%
|
|||||
|
|
Call Options Purchased — 102.2%
|
|
|||
|
4,207
|
State Street® SPDR® S&P 500® ETF Trust
|
$318,251,136
|
$7.09
|
04/16/27
|
312,786,285
|
|
|
(Cost $294,099,779)
|
|
|
|
|
|
|
Put Options Purchased — 2.8%
|
|
|||
|
4,207
|
State Street® SPDR® S&P 500® ETF Trust
|
318,251,136
|
674.63
|
04/16/27
|
8,670,543
|
|
|
(Cost $13,353,011)
|
|
|
|
|
|
|
Total Purchased Options
|
321,456,828
|
|||
|
|
(Cost $307,452,790)
|
|
|||
|
WRITTEN OPTIONS — (6.0)%
|
|||||
|
|
Call Options Written — (5.3)%
|
|
|||
|
(4,207)
|
State Street® SPDR® S&P 500® ETF Trust
|
(318,251,136
)
|
795.64
|
04/16/27
|
(16,212,684
)
|
|
|
(Premiums received $8,250,196)
|
|
|
|
|
|
|
Put Options Written — (0.7)%
|
|
|||
|
(4,207)
|
State Street® SPDR® S&P 500® ETF Trust
|
(318,251,136
)
|
497.10
|
04/16/27
|
(2,156,172
)
|
|
|
(Premiums received $3,299,762)
|
|
|
|
|
|
|
Total Written Options
|
(18,368,856
)
|
|||
|
|
(Premiums received $11,549,958)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(207,151
)
|
|||
|
|
Net Assets — 100.0%
|
$306,090,108
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$3,209,287
|
$3,209,287
|
$—
|
$—
|
|
Purchased Options
|
321,456,828
|
—
|
321,456,828
|
—
|
|
Total
|
$324,666,115
|
$3,209,287
|
$321,456,828
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(18,368,856
)
|
$—
|
$(18,368,856
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 1.2%
|
|||||
|
13,912,536
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$13,912,536
|
|||
|
|
(Cost $13,912,536)
|
|
|||
|
|
Total Investments — 1.2%
|
13,912,536
|
|||
|
|
(Cost $13,912,536)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 103.9%
|
|||||
|
|
Call Options Purchased — 99.1%
|
|
|||
|
16,256
|
State Street® SPDR® S&P 500® ETF Trust
|
$1,229,733,888
|
$7.39
|
05/21/27
|
1,208,724,471
|
|
|
(Cost $1,180,700,701)
|
|
|
|
|
|
|
Put Options Purchased — 4.8%
|
|
|||
|
16,256
|
State Street® SPDR® S&P 500® ETF Trust
|
1,229,733,888
|
739.17
|
05/21/27
|
58,892,562
|
|
|
(Cost $70,573,922)
|
|
|
|
|
|
|
Total Purchased Options
|
1,267,617,033
|
|||
|
|
(Cost $1,251,274,623)
|
|
|||
|
WRITTEN OPTIONS — (5.0)%
|
|||||
|
|
Call Options Written — (2.2)%
|
|
|||
|
(16,256)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,229,733,888
)
|
865.49
|
05/21/27
|
(26,951,798
)
|
|
|
(Premiums received $21,765,683)
|
|
|
|
|
|
|
Put Options Written — (2.8)%
|
|
|||
|
(16,256)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,229,733,888
)
|
665.25
|
05/21/27
|
(33,863,849
)
|
|
|
(Premiums received $41,234,122)
|
|
|
|
|
|
|
Total Written Options
|
(60,815,647
)
|
|||
|
|
(Premiums received $62,999,805)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(858,134
)
|
|||
|
|
Net Assets — 100.0%
|
$1,219,855,788
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$13,912,536
|
$13,912,536
|
$—
|
$—
|
|
Purchased Options
|
1,267,617,033
|
—
|
1,267,617,033
|
—
|
|
Total
|
$1,281,529,569
|
$13,912,536
|
$1,267,617,033
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(60,815,647
)
|
$—
|
$(60,815,647
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 1.1%
|
|||||
|
3,956,821
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$3,956,821
|
|||
|
|
(Cost $3,956,821)
|
|
|||
|
|
Total Investments — 1.1%
|
3,956,821
|
|||
|
|
(Cost $3,956,821)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 103.1%
|
|||||
|
|
Call Options Purchased — 99.4%
|
|
|||
|
4,741
|
State Street® SPDR® S&P 500® ETF Trust
|
$358,647,168
|
$7.38
|
05/21/27
|
352,524,404
|
|
|
(Cost $344,473,559)
|
|
|
|
|
|
|
Put Options Purchased — 3.7%
|
|
|||
|
4,741
|
State Street® SPDR® S&P 500® ETF Trust
|
358,647,168
|
702.21
|
05/21/27
|
13,018,928
|
|
|
(Cost $15,677,796)
|
|
|
|
|
|
|
Total Purchased Options
|
365,543,332
|
|||
|
|
(Cost $360,151,355)
|
|
|||
|
WRITTEN OPTIONS — (4.1)%
|
|||||
|
|
Call Options Written — (3.2)%
|
|
|||
|
(4,741)
|
State Street® SPDR® S&P 500® ETF Trust
|
(358,647,168
)
|
839.40
|
05/21/27
|
(11,572,828
)
|
|
|
(Premiums received $9,501,751)
|
|
|
|
|
|
|
Put Options Written — (0.9)%
|
|
|||
|
(4,741)
|
State Street® SPDR® S&P 500® ETF Trust
|
(358,647,168
)
|
517.42
|
05/21/27
|
(3,203,115
)
|
|
|
(Premiums received $3,950,307)
|
|
|
|
|
|
|
Total Written Options
|
(14,775,943
)
|
|||
|
|
(Premiums received $13,452,058)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(230,861
)
|
|||
|
|
Net Assets — 100.0%
|
$354,493,349
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$3,956,821
|
$3,956,821
|
$—
|
$—
|
|
Purchased Options
|
365,543,332
|
—
|
365,543,332
|
—
|
|
Total
|
$369,500,153
|
$3,956,821
|
$365,543,332
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(14,775,943
)
|
$—
|
$(14,775,943
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.3%
|
|||||
|
3,533,996
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$3,533,996
|
|||
|
|
(Cost $3,533,996)
|
|
|||
|
|
Total Investments — 0.3%
|
3,533,996
|
|||
|
|
(Cost $3,533,996)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 110.5%
|
|||||
|
|
Call Options Purchased — 110.5%
|
|
|||
|
17,269
|
State Street® SPDR® S&P 500® ETF Trust
|
$1,306,365,312
|
$5.94
|
06/18/26
|
1,292,859,918
|
|
|
(Cost $1,025,880,349)
|
|
|
|
|
|
|
Put Options Purchased — 0.0%
|
|
|||
|
17,269
|
State Street® SPDR® S&P 500® ETF Trust
|
1,306,365,312
|
594.28
|
06/18/26
|
207,918
|
|
|
(Cost $53,656,203)
|
|
|
|
|
|
|
Total Purchased Options
|
1,293,067,836
|
|||
|
|
(Cost $1,079,536,552)
|
|
|||
|
WRITTEN OPTIONS — (10.7)%
|
|||||
|
|
Call Options Written — (10.7)%
|
|
|||
|
(17,269)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,306,365,312
)
|
684.24
|
06/18/26
|
(125,101,989
)
|
|
|
(Premiums received $19,942,181)
|
|
|
|
|
|
|
Put Options Written — (0.0)%
|
|
|||
|
(17,269)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,306,365,312
)
|
534.85
|
06/18/26
|
(93,080
)
|
|
|
(Premiums received $30,132,638)
|
|
|
|
|
|
|
Total Written Options
|
(125,195,069
)
|
|||
|
|
(Premiums received $50,074,819)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(821,963
)
|
|||
|
|
Net Assets — 100.0%
|
$1,170,584,800
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$3,533,996
|
$3,533,996
|
$—
|
$—
|
|
Purchased Options
|
1,293,067,836
|
—
|
1,293,067,836
|
—
|
|
Total
|
$1,296,601,832
|
$3,533,996
|
$1,293,067,836
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(125,195,069
)
|
$—
|
$(125,195,069
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.3%
|
|||||
|
992,480
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$992,480
|
|||
|
|
(Cost $992,480)
|
|
|||
|
|
Total Investments — 0.3%
|
992,480
|
|||
|
|
(Cost $992,480)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 113.5%
|
|||||
|
|
Call Options Purchased — 113.5%
|
|
|||
|
4,856
|
State Street® SPDR® S&P 500® ETF Trust
|
$367,346,688
|
$5.93
|
06/18/26
|
363,553,860
|
|
|
(Cost $288,234,316)
|
|
|
|
|
|
|
Put Options Purchased — 0.0%
|
|
|||
|
4,856
|
State Street® SPDR® S&P 500® ETF Trust
|
367,346,688
|
564.57
|
06/18/26
|
38,557
|
|
|
(Cost $11,441,417)
|
|
|
|
|
|
|
Total Purchased Options
|
363,592,417
|
|||
|
|
(Cost $299,675,733)
|
|
|||
|
WRITTEN OPTIONS — (13.7)%
|
|||||
|
|
Call Options Written — (13.7)%
|
|
|||
|
(4,856)
|
State Street® SPDR® S&P 500® ETF Trust
|
(367,346,688
)
|
666.07
|
06/18/26
|
(43,904,164
)
|
|
|
(Premiums received $7,697,443)
|
|
|
|
|
|
|
Put Options Written — (0.0)%
|
|
|||
|
(4,856)
|
State Street® SPDR® S&P 500® ETF Trust
|
(367,346,688
)
|
416.00
|
06/18/26
|
(8,401
)
|
|
|
(Premiums received $2,770,675)
|
|
|
|
|
|
|
Total Written Options
|
(43,912,565
)
|
|||
|
|
(Premiums received $10,468,118)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(222,380
)
|
|||
|
|
Net Assets — 100.0%
|
$320,449,952
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$992,480
|
$992,480
|
$—
|
$—
|
|
Purchased Options
|
363,592,417
|
—
|
363,592,417
|
—
|
|
Total
|
$364,584,897
|
$992,480
|
$363,592,417
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(43,912,565
)
|
$—
|
$(43,912,565
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.4%
|
|||||
|
4,528,839
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$4,528,839
|
|||
|
|
(Cost $4,528,839)
|
|
|||
|
|
Total Investments — 0.4%
|
4,528,839
|
|||
|
|
(Cost $4,528,839)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 106.1%
|
|||||
|
|
Call Options Purchased — 106.0%
|
|
|||
|
16,574
|
State Street® SPDR® S&P 500® ETF Trust
|
$1,253,789,952
|
$6.28
|
07/17/26
|
1,240,831,238
|
|
|
(Cost $1,029,504,084)
|
|
|
|
|
|
|
Put Options Purchased — 0.1%
|
|
|||
|
16,574
|
State Street® SPDR® S&P 500® ETF Trust
|
1,253,789,952
|
627.58
|
07/17/26
|
1,477,241
|
|
|
(Cost $55,528,743)
|
|
|
|
|
|
|
Total Purchased Options
|
1,242,308,479
|
|||
|
|
(Cost $1,085,032,827)
|
|
|||
|
WRITTEN OPTIONS — (6.4)%
|
|||||
|
|
Call Options Written — (6.3)%
|
|
|||
|
(16,574)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,253,789,952
)
|
718.89
|
07/17/26
|
(74,248,205
)
|
|
|
(Premiums received $15,073,370)
|
|
|
|
|
|
|
Put Options Written — (0.1)%
|
|
|||
|
(16,574)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,253,789,952
)
|
564.82
|
07/17/26
|
(691,633
)
|
|
|
(Premiums received $30,023,775)
|
|
|
|
|
|
|
Total Written Options
|
(74,939,838
)
|
|||
|
|
(Premiums received $45,097,145)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(826,712
)
|
|||
|
|
Net Assets — 100.0%
|
$1,171,070,768
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$4,528,839
|
$4,528,839
|
$—
|
$—
|
|
Purchased Options
|
1,242,308,479
|
—
|
1,242,308,479
|
—
|
|
Total
|
$1,246,837,318
|
$4,528,839
|
$1,242,308,479
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(74,939,838
)
|
$—
|
$(74,939,838
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.4%
|
|||||
|
1,571,431
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$1,571,431
|
|||
|
|
(Cost $1,571,431)
|
|
|||
|
|
Total Investments — 0.4%
|
1,571,431
|
|||
|
|
(Cost $1,571,431)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 108.3%
|
|||||
|
|
Call Options Purchased — 108.2%
|
|
|||
|
5,822
|
State Street® SPDR® S&P 500® ETF Trust
|
$440,422,656
|
$6.27
|
07/17/26
|
435,876,431
|
|
|
(Cost $358,173,598)
|
|
|
|
|
|
|
Put Options Purchased — 0.1%
|
|
|||
|
5,822
|
State Street® SPDR® S&P 500® ETF Trust
|
440,422,656
|
596.20
|
07/17/26
|
347,690
|
|
|
(Cost $15,030,721)
|
|
|
|
|
|
|
Total Purchased Options
|
436,224,121
|
|||
|
|
(Cost $373,204,319)
|
|
|||
|
WRITTEN OPTIONS — (8.6)%
|
|||||
|
|
Call Options Written — (8.6)%
|
|
|||
|
(5,822)
|
State Street® SPDR® S&P 500® ETF Trust
|
(440,422,656
)
|
702.70
|
07/17/26
|
(34,560,033
)
|
|
|
(Premiums received $7,968,256)
|
|
|
|
|
|
|
Put Options Written — (0.0)%
|
|
|||
|
(5,822)
|
State Street® SPDR® S&P 500® ETF Trust
|
(440,422,656
)
|
439.31
|
07/17/26
|
(60,141
)
|
|
|
(Premiums received $3,512,302)
|
|
|
|
|
|
|
Total Written Options
|
(34,620,174
)
|
|||
|
|
(Premiums received $11,480,558)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(284,698
)
|
|||
|
|
Net Assets — 100.0%
|
$402,890,680
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$1,571,431
|
$1,571,431
|
$—
|
$—
|
|
Purchased Options
|
436,224,121
|
—
|
436,224,121
|
—
|
|
Total
|
$437,795,552
|
$1,571,431
|
$436,224,121
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(34,620,174
)
|
$—
|
$(34,620,174
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.5%
|
|||||
|
5,407,402
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$5,407,402
|
|||
|
|
(Cost $5,407,402)
|
|
|||
|
|
Total Investments — 0.5%
|
5,407,402
|
|||
|
|
(Cost $5,407,402)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 105.2%
|
|||||
|
|
Call Options Purchased — 104.8%
|
|
|||
|
16,503
|
State Street® SPDR® S&P 500® ETF Trust
|
$1,248,418,944
|
$6.43
|
08/21/26
|
1,235,521,354
|
|
|
(Cost $1,048,213,902)
|
|
|
|
|
|
|
Put Options Purchased — 0.4%
|
|
|||
|
16,503
|
State Street® SPDR® S&P 500® ETF Trust
|
1,248,418,944
|
643.44
|
08/21/26
|
4,778,114
|
|
|
(Cost $55,647,454)
|
|
|
|
|
|
|
Total Purchased Options
|
1,240,299,468
|
|||
|
|
(Cost $1,103,861,356)
|
|
|||
|
WRITTEN OPTIONS — (5.6)%
|
|||||
|
|
Call Options Written — (5.4)%
|
|
|||
|
(16,503)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,248,418,944
)
|
735.39
|
08/21/26
|
(63,595,796
)
|
|
|
(Premiums received $14,176,000)
|
|
|
|
|
|
|
Put Options Written — (0.2)%
|
|
|||
|
(16,503)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,248,418,944
)
|
579.10
|
08/21/26
|
(2,263,386
)
|
|
|
(Premiums received $30,341,123)
|
|
|
|
|
|
|
Total Written Options
|
(65,859,182
)
|
|||
|
|
(Premiums received $44,517,123)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(825,163
)
|
|||
|
|
Net Assets — 100.0%
|
$1,179,022,525
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$5,407,402
|
$5,407,402
|
$—
|
$—
|
|
Purchased Options
|
1,240,299,468
|
—
|
1,240,299,468
|
—
|
|
Total
|
$1,245,706,870
|
$5,407,402
|
$1,240,299,468
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(65,859,182
)
|
$—
|
$(65,859,182
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.5%
|
|||||
|
1,676,187
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$1,676,187
|
|||
|
|
(Cost $1,676,187)
|
|
|||
|
|
Total Investments — 0.5%
|
1,676,187
|
|||
|
|
(Cost $1,676,187)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 106.8%
|
|||||
|
|
Call Options Purchased — 106.5%
|
|
|||
|
5,164
|
State Street® SPDR® S&P 500® ETF Trust
|
$390,646,272
|
$6.42
|
08/21/26
|
386,458,268
|
|
|
(Cost $326,115,831)
|
|
|
|
|
|
|
Put Options Purchased — 0.3%
|
|
|||
|
5,164
|
State Street® SPDR® S&P 500® ETF Trust
|
390,646,272
|
611.27
|
08/21/26
|
1,001,816
|
|
|
(Cost $13,280,351)
|
|
|
|
|
|
|
Total Purchased Options
|
387,460,084
|
|||
|
|
(Cost $339,396,182)
|
|
|||
|
WRITTEN OPTIONS — (7.2)%
|
|||||
|
|
Call Options Written — (7.2)%
|
|
|||
|
(5,164)
|
State Street® SPDR® S&P 500® ETF Trust
|
(390,646,272
)
|
720.52
|
08/21/26
|
(26,000,740
)
|
|
|
(Premiums received $6,662,416)
|
|
|
|
|
|
|
Put Options Written — (0.0)%
|
|
|||
|
(5,164)
|
State Street® SPDR® S&P 500® ETF Trust
|
(390,646,272
)
|
450.41
|
08/21/26
|
(165,248
)
|
|
|
(Premiums received $3,109,147)
|
|
|
|
|
|
|
Total Written Options
|
(26,165,988
)
|
|||
|
|
(Premiums received $9,771,563)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(231,110
)
|
|||
|
|
Net Assets — 100.0%
|
$362,739,173
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$1,676,187
|
$1,676,187
|
$—
|
$—
|
|
Purchased Options
|
387,460,084
|
—
|
387,460,084
|
—
|
|
Total
|
$389,136,271
|
$1,676,187
|
$387,460,084
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(26,165,988
)
|
$—
|
$(26,165,988
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.6%
|
|||||
|
7,017,237
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$7,017,237
|
|||
|
|
(Cost $7,017,237)
|
|
|||
|
|
Total Investments — 0.6%
|
7,017,237
|
|||
|
|
(Cost $7,017,237)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 103.8%
|
|||||
|
|
Call Options Purchased — 103.0%
|
|
|||
|
17,829
|
State Street® SPDR® S&P 500® ETF Trust
|
$1,348,728,192
|
$6.64
|
09/18/26
|
1,330,542,612
|
|
|
(Cost $1,164,167,271)
|
|
|
|
|
|
|
Put Options Purchased — 0.8%
|
|
|||
|
17,829
|
State Street® SPDR® S&P 500® ETF Trust
|
1,348,728,192
|
663.70
|
09/18/26
|
10,572,597
|
|
|
(Cost $60,879,254)
|
|
|
|
|
|
|
Total Purchased Options
|
1,341,115,209
|
|||
|
|
(Cost $1,225,046,525)
|
|
|||
|
WRITTEN OPTIONS — (4.3)%
|
|||||
|
|
Call Options Written — (3.9)%
|
|
|||
|
(17,829)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,348,728,192
)
|
756.62
|
09/18/26
|
(50,491,728
)
|
|
|
(Premiums received $17,129,493)
|
|
|
|
|
|
|
Put Options Written — (0.4)%
|
|
|||
|
(17,829)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,348,728,192
)
|
597.33
|
09/18/26
|
(4,956,462
)
|
|
|
(Premiums received $34,330,651)
|
|
|
|
|
|
|
Total Written Options
|
(55,448,190
)
|
|||
|
|
(Premiums received $51,460,144)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(906,121
)
|
|||
|
|
Net Assets — 100.0%
|
$1,291,778,135
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$7,017,237
|
$7,017,237
|
$—
|
$—
|
|
Purchased Options
|
1,341,115,209
|
—
|
1,341,115,209
|
—
|
|
Total
|
$1,348,132,446
|
$7,017,237
|
$1,341,115,209
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(55,448,190
)
|
$—
|
$(55,448,190
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.6%
|
|||||
|
1,898,896
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$1,898,896
|
|||
|
|
(Cost $1,898,896)
|
|
|||
|
|
Total Investments — 0.6%
|
1,898,896
|
|||
|
|
(Cost $1,898,896)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 105.2%
|
|||||
|
|
Call Options Purchased — 104.7%
|
|
|||
|
4,913
|
State Street® SPDR® S&P 500® ETF Trust
|
$371,658,624
|
$6.63
|
09/18/26
|
366,813,620
|
|
|
(Cost $320,672,154)
|
|
|
|
|
|
|
Put Options Purchased — 0.5%
|
|
|||
|
4,913
|
State Street® SPDR® S&P 500® ETF Trust
|
371,658,624
|
630.52
|
09/18/26
|
1,962,989
|
|
|
(Cost $12,759,553)
|
|
|
|
|
|
|
Total Purchased Options
|
368,776,609
|
|||
|
|
(Cost $333,431,707)
|
|
|||
|
WRITTEN OPTIONS — (5.7)%
|
|||||
|
|
Call Options Written — (5.6)%
|
|
|||
|
(4,913)
|
State Street® SPDR® S&P 500® ETF Trust
|
(371,658,624
)
|
739.56
|
09/18/26
|
(19,553,887
)
|
|
|
(Premiums received $7,348,965)
|
|
|
|
|
|
|
Put Options Written — (0.1)%
|
|
|||
|
(4,913)
|
State Street® SPDR® S&P 500® ETF Trust
|
(371,658,624
)
|
464.59
|
09/18/26
|
(412,889
)
|
|
|
(Premiums received $2,974,431)
|
|
|
|
|
|
|
Total Written Options
|
(19,966,776
)
|
|||
|
|
(Premiums received $10,323,396)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(243,873
)
|
|||
|
|
Net Assets — 100.0%
|
$350,464,856
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$1,898,896
|
$1,898,896
|
$—
|
$—
|
|
Purchased Options
|
368,776,609
|
—
|
368,776,609
|
—
|
|
Total
|
$370,675,505
|
$1,898,896
|
$368,776,609
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(19,966,776
)
|
$—
|
$(19,966,776
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.6%
|
|||||
|
7,340,952
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$7,340,952
|
|||
|
|
(Cost $7,340,952)
|
|
|||
|
|
Total Investments — 0.6%
|
7,340,952
|
|||
|
|
(Cost $7,340,952)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 104.0%
|
|||||
|
|
Call Options Purchased — 102.9%
|
|
|||
|
16,679
|
State Street® SPDR® S&P 500® ETF Trust
|
$1,261,732,992
|
$6.64
|
10/16/26
|
1,244,975,267
|
|
|
(Cost $1,097,149,882)
|
|
|
|
|
|
|
Put Options Purchased — 1.1%
|
|
|||
|
16,679
|
State Street® SPDR® S&P 500® ETF Trust
|
1,261,732,992
|
664.39
|
10/16/26
|
13,230,283
|
|
|
(Cost $60,644,166)
|
|
|
|
|
|
|
Total Purchased Options
|
1,258,205,550
|
|||
|
|
(Cost $1,157,794,048)
|
|
|||
|
WRITTEN OPTIONS — (4.5)%
|
|||||
|
|
Call Options Written — (4.0)%
|
|
|||
|
(16,679)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,261,732,992
)
|
764.65
|
10/16/26
|
(47,685,261
)
|
|
|
(Premiums received $19,639,722)
|
|
|
|
|
|
|
Put Options Written — (0.5)%
|
|
|||
|
(16,679)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,261,732,992
)
|
597.95
|
10/16/26
|
(6,439,928
)
|
|
|
(Premiums received $34,958,457)
|
|
|
|
|
|
|
Total Written Options
|
(54,125,189
)
|
|||
|
|
(Premiums received $54,598,179)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(836,357
)
|
|||
|
|
Net Assets — 100.0%
|
$1,210,584,956
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$7,340,952
|
$7,340,952
|
$—
|
$—
|
|
Purchased Options
|
1,258,205,550
|
—
|
1,258,205,550
|
—
|
|
Total
|
$1,265,546,502
|
$7,340,952
|
$1,258,205,550
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(54,125,189
)
|
$—
|
$(54,125,189
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.6%
|
|||||
|
2,382,935
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$2,382,935
|
|||
|
|
(Cost $2,382,935)
|
|
|||
|
|
Total Investments — 0.6%
|
2,382,935
|
|||
|
|
(Cost $2,382,935)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 105.7%
|
|||||
|
|
Call Options Purchased — 104.9%
|
|
|||
|
5,467
|
State Street® SPDR® S&P 500® ETF Trust
|
$413,567,616
|
$6.63
|
10/16/26
|
408,080,169
|
|
|
(Cost $358,327,295)
|
|
|
|
|
|
|
Put Options Purchased — 0.8%
|
|
|||
|
5,467
|
State Street® SPDR® S&P 500® ETF Trust
|
413,567,616
|
631.17
|
10/16/26
|
2,997,830
|
|
|
(Cost $15,616,252)
|
|
|
|
|
|
|
Total Purchased Options
|
411,077,999
|
|||
|
|
(Cost $373,943,547)
|
|
|||
|
WRITTEN OPTIONS — (6.2)%
|
|||||
|
|
Call Options Written — (6.0)%
|
|
|||
|
(5,467)
|
State Street® SPDR® S&P 500® ETF Trust
|
(413,567,616
)
|
742.32
|
10/16/26
|
(23,494,924
)
|
|
|
(Premiums received $10,032,514)
|
|
|
|
|
|
|
Put Options Written — (0.2)%
|
|
|||
|
(5,467)
|
State Street® SPDR® S&P 500® ETF Trust
|
(413,567,616
)
|
465.07
|
10/16/26
|
(672,988
)
|
|
|
(Premiums received $3,767,690)
|
|
|
|
|
|
|
Total Written Options
|
(24,167,912
)
|
|||
|
|
(Premiums received $13,800,204)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(270,354
)
|
|||
|
|
Net Assets — 100.0%
|
$389,022,668
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$2,382,935
|
$2,382,935
|
$—
|
$—
|
|
Purchased Options
|
411,077,999
|
—
|
411,077,999
|
—
|
|
Total
|
$413,460,934
|
$2,382,935
|
$411,077,999
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(24,167,912
)
|
$—
|
$(24,167,912
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.7%
|
|||||
|
8,547,209
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$8,547,209
|
|||
|
|
(Cost $8,547,209)
|
|
|||
|
|
Total Investments — 0.7%
|
8,547,209
|
|||
|
|
(Cost $8,547,209)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 104.6%
|
|||||
|
|
Call Options Purchased — 103.2%
|
|
|||
|
17,370
|
State Street® SPDR® S&P 500® ETF Trust
|
$1,314,005,760
|
$6.59
|
11/20/26
|
1,296,474,567
|
|
|
(Cost $1,133,864,208)
|
|
|
|
|
|
|
Put Options Purchased — 1.4%
|
|
|||
|
17,370
|
State Street® SPDR® S&P 500® ETF Trust
|
1,314,005,760
|
659.03
|
11/20/26
|
17,062,377
|
|
|
(Cost $66,746,166)
|
|
|
|
|
|
|
Total Purchased Options
|
1,313,536,944
|
|||
|
|
(Cost $1,200,610,374)
|
|
|||
|
WRITTEN OPTIONS — (5.2)%
|
|||||
|
|
Call Options Written — (4.5)%
|
|
|||
|
(17,370)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,314,005,760
)
|
768.56
|
11/20/26
|
(56,599,450
)
|
|
|
(Premiums received $21,851,321)
|
|
|
|
|
|
|
Put Options Written — (0.7)%
|
|
|||
|
(17,370)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,314,005,760
)
|
593.13
|
11/20/26
|
(8,866,864
)
|
|
|
(Premiums received $39,177,238)
|
|
|
|
|
|
|
Total Written Options
|
(65,466,314
)
|
|||
|
|
(Premiums received $61,028,559)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(866,094
)
|
|||
|
|
Net Assets — 100.0%
|
$1,255,751,745
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$8,547,209
|
$8,547,209
|
$—
|
$—
|
|
Purchased Options
|
1,313,536,944
|
—
|
1,313,536,944
|
—
|
|
Total
|
$1,322,084,153
|
$8,547,209
|
$1,313,536,944
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(65,466,314
)
|
$—
|
$(65,466,314
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.7%
|
|||||
|
2,699,205
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$2,699,205
|
|||
|
|
(Cost $2,699,205)
|
|
|||
|
|
Total Investments — 0.7%
|
2,699,205
|
|||
|
|
(Cost $2,699,205)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 106.4%
|
|||||
|
|
Call Options Purchased — 105.4%
|
|
|||
|
5,519
|
State Street® SPDR® S&P 500® ETF Trust
|
$417,501,312
|
$6.58
|
11/20/26
|
411,936,449
|
|
|
(Cost $358,719,927)
|
|
|
|
|
|
|
Put Options Purchased — 1.0%
|
|
|||
|
5,519
|
State Street® SPDR® S&P 500® ETF Trust
|
417,501,312
|
626.08
|
11/20/26
|
3,889,736
|
|
|
(Cost $17,040,611)
|
|
|
|
|
|
|
Total Purchased Options
|
415,826,185
|
|||
|
|
(Cost $375,760,538)
|
|
|||
|
WRITTEN OPTIONS — (7.0)%
|
|||||
|
|
Call Options Written — (6.8)%
|
|
|||
|
(5,519)
|
State Street® SPDR® S&P 500® ETF Trust
|
(417,501,312
)
|
744.24
|
11/20/26
|
(26,542,802
)
|
|
|
(Premiums received $10,698,098)
|
|
|
|
|
|
|
Put Options Written — (0.2)%
|
|
|||
|
(5,519)
|
State Street® SPDR® S&P 500® ETF Trust
|
(417,501,312
)
|
461.32
|
11/20/26
|
(945,405
)
|
|
|
(Premiums received $4,322,812)
|
|
|
|
|
|
|
Total Written Options
|
(27,488,207
)
|
|||
|
|
(Premiums received $15,020,910)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(273,562
)
|
|||
|
|
Net Assets — 100.0%
|
$390,763,621
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$2,699,205
|
$2,699,205
|
$—
|
$—
|
|
Purchased Options
|
415,826,185
|
—
|
415,826,185
|
—
|
|
Total
|
$418,525,390
|
$2,699,205
|
$415,826,185
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(27,488,207
)
|
$—
|
$(27,488,207
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.8%
|
|||||
|
10,453,815
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$10,453,815
|
|||
|
|
(Cost $10,453,815)
|
|
|||
|
|
Total Investments — 0.8%
|
10,453,815
|
|||
|
|
(Cost $10,453,815)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 104.4%
|
|||||
|
|
Call Options Purchased — 102.4%
|
|
|||
|
18,925
|
State Street® SPDR® S&P 500® ETF Trust
|
$1,431,638,400
|
$6.81
|
12/18/26
|
1,408,594,563
|
|
|
(Cost $1,262,896,780)
|
|
|
|
|
|
|
Put Options Purchased — 2.0%
|
|
|||
|
18,925
|
State Street® SPDR® S&P 500® ETF Trust
|
1,431,638,400
|
680.59
|
12/18/26
|
27,583,377
|
|
|
(Cost $74,241,948)
|
|
|
|
|
|
|
Total Purchased Options
|
1,436,177,940
|
|||
|
|
(Cost $1,337,138,728)
|
|
|||
|
WRITTEN OPTIONS — (5.1)%
|
|||||
|
|
Call Options Written — (4.0)%
|
|
|||
|
(18,925)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,431,638,400
)
|
780.98
|
12/18/26
|
(55,658,425
)
|
|
|
(Premiums received $18,425,464)
|
|
|
|
|
|
|
Put Options Written — (1.1)%
|
|
|||
|
(18,925)
|
State Street® SPDR® S&P 500® ETF Trust
|
(1,431,638,400
)
|
612.53
|
12/18/26
|
(14,456,808
)
|
|
|
(Premiums received $42,898,534)
|
|
|
|
|
|
|
Total Written Options
|
(70,115,233
)
|
|||
|
|
(Premiums received $61,323,998)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(944,659
)
|
|||
|
|
Net Assets — 100.0%
|
$1,375,571,863
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$10,453,815
|
$10,453,815
|
$—
|
$—
|
|
Purchased Options
|
1,436,177,940
|
—
|
1,436,177,940
|
—
|
|
Total
|
$1,446,631,755
|
$10,453,815
|
$1,436,177,940
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(70,115,233
)
|
$—
|
$(70,115,233
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.8%
|
|||||
|
3,231,628
|
BNY Dreyfus Government Cash Management Fund, Institutional Shares - 3.51% (a)
|
$3,231,628
|
|||
|
|
(Cost $3,231,628)
|
|
|||
|
|
Total Investments — 0.8%
|
3,231,628
|
|||
|
|
(Cost $3,231,628)
|
|
|||
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
|
PURCHASED OPTIONS — 105.2%
|
|||||
|
|
Call Options Purchased — 103.8%
|
|
|||
|
5,943
|
State Street® SPDR® S&P 500® ETF Trust
|
$449,576,064
|
$6.80
|
12/18/26
|
442,345,394
|
|
|
(Cost $396,399,265)
|
|
|
|
|
|
|
Put Options Purchased — 1.4%
|
|
|||
|
5,943
|
State Street® SPDR® S&P 500® ETF Trust
|
449,576,064
|
646.56
|
12/18/26
|
6,258,217
|
|
|
(Cost $17,854,715)
|
|
|
|
|
|
|
Total Purchased Options
|
448,603,611
|
|||
|
|
(Cost $414,253,980)
|
|
|||
|
WRITTEN OPTIONS — (5.9)%
|
|||||
|
|
Call Options Written — (5.6)%
|
|
|||
|
(5,943)
|
State Street® SPDR® S&P 500® ETF Trust
|
(449,576,064
)
|
761.99
|
12/18/26
|
(23,847,595
)
|
|
|
(Premiums received $9,507,491)
|
|
|
|
|
|
|
Put Options Written — (0.3)%
|
|
|||
|
(5,943)
|
State Street® SPDR® S&P 500® ETF Trust
|
(449,576,064
)
|
476.41
|
12/18/26
|
(1,438,563
)
|
|
|
(Premiums received $4,298,164)
|
|
|
|
|
|
|
Total Written Options
|
(25,286,158
)
|
|||
|
|
(Premiums received $13,805,655)
|
|
|||
|
|
Net Other Assets and Liabilities — (0.1)%
|
(293,874
)
|
|||
|
|
Net Assets — 100.0%
|
$426,255,207
|
|||
|
(a)
|
Rate shown reflects yield as of May 31, 2026.
|
|
ASSETS TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Money Market Funds
|
$3,231,628
|
$3,231,628
|
$—
|
$—
|
|
Purchased Options
|
448,603,611
|
—
|
448,603,611
|
—
|
|
Total
|
$451,835,239
|
$3,231,628
|
$448,603,611
|
$—
|
|
LIABILITIES TABLE
|
||||
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Written Options
|
$(25,286,158
)
|
$—
|
$(25,286,158
)
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
EXCHANGE-TRADED FUNDS — 100.0%
|
|||||
|
|
Capital Markets (a) — 100.0%
|
|
|||
|
275,104
|
FT Vest U.S. Equity Buffer ETF
- June (b)
|
$16,430,586
|
|||
|
427,679
|
FT Vest U.S. Equity Deep
Buffer ETF - June (b)
|
21,003,316
|
|||
|
671,007
|
FT Vest U.S. Equity Enhance &
Moderate Buffer ETF -
June (b)
|
29,712,190
|
|||
|
545,882
|
FT Vest U.S. Equity Moderate
Buffer ETF - June (b)
|
22,411,076
|
|||
|
528,374
|
FT Vest U.S. Equity Enhance &
Moderate Buffer ETF -
July (b)
|
21,425,566
|
|||
|
471,193
|
FT Vest U.S. Equity Enhance &
Moderate Buffer ETF -
August (b)
|
18,334,120
|
|||
|
351,083
|
FT Vest U.S. Equity Enhance &
Moderate Buffer ETF -
September (b)
|
15,530,191
|
|||
|
|
Total Exchange-Traded Funds
|
144,847,045
|
|||
|
|
(Cost $139,383,009)
|
|
|||
|
MONEY MARKET FUNDS — 0.0%
|
|||||
|
23,595
|
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
3.49% (c)
|
23,595
|
|||
|
|
(Cost $23,595)
|
|
|||
|
|
|||||
|
|
|||||
|
|
Total Investments — 100.0%
|
144,870,640
|
|||
|
|
(Cost $139,406,604)
|
|
|||
|
|
Net Other Assets and
Liabilities — (0.0)%
|
(24,263
)
|
|||
|
|
Net Assets — 100.0%
|
$144,846,377
|
|||
|
(a)
|
Represents investments in affiliated funds.
|
|
(b)
|
Non-income producing security.
|
|
(c)
|
Rate shown reflects yield as of May 31, 2026.
|
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Exchange-Traded
Funds*
|
$144,847,045
|
$144,847,045
|
$—
|
$—
|
|
Money Market Funds
|
23,595
|
23,595
|
—
|
—
|
|
Total Investments
|
$144,870,640
|
$144,870,640
|
$—
|
$—
|
|
*
|
See Portfolio of Investments for industry breakout.
|
|
Security Name
|
Shares at
5/31/2026
|
Value at
8/31/2025
|
Purchases
|
Sales
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Realized
Gain
(Loss)
|
Value at
5/31/2026
|
Dividend
Income
|
|
FT Vest U.S. Equity
Enhance & Moderate
Buffer ETF - January
|
—
|
$—
|
$21,543,478
|
$(21,909,162
)
|
$—
|
$365,684
|
$—
|
$—
|
|
FT Vest U.S. Equity
Deep Buffer ETF -
March
|
—
|
—
|
34,811,333
|
(35,126,433
)
|
—
|
315,100
|
—
|
—
|
|
FT Vest U.S. Equity
Enhance & Moderate
Buffer ETF - March
|
—
|
18,264,899
|
35,008,584
|
(54,221,086
)
|
(1,136,604
)
|
2,084,207
|
—
|
—
|
|
FT Vest U.S. Equity
Moderate Buffer ETF -
March
|
—
|
15,305,904
|
28,785,140
|
(44,979,313
)
|
(717,823
)
|
1,606,092
|
—
|
—
|
|
FT Vest U.S. Equity
Buffer ETF - April
|
—
|
—
|
35,182,763
|
(35,330,489
)
|
—
|
147,726
|
—
|
—
|
|
FT Vest U.S. Equity
Deep Buffer ETF -
April
|
—
|
19,029,789
|
32,994,655
|
(52,692,771
)
|
(376,135
)
|
1,044,462
|
—
|
—
|
|
FT Vest U.S. Equity
Enhance & Moderate
Buffer ETF - April
|
—
|
21,990,314
|
38,301,460
|
(60,993,695
)
|
(381,372
)
|
1,083,293
|
—
|
—
|
|
FT Vest U.S. Equity
Moderate Buffer ETF -
April
|
—
|
17,904,637
|
32,194,182
|
(50,791,264
)
|
(368,617
)
|
1,061,062
|
—
|
—
|
|
FT Vest U.S. Equity
Buffer ETF - June
|
275,104
|
—
|
16,070,701
|
(434,228
)
|
791,572
|
2,541
|
16,430,586
|
—
|
|
FT Vest U.S. Equity
Deep Buffer ETF -
June
|
427,679
|
—
|
20,779,308
|
(560,896
)
|
782,353
|
2,551
|
21,003,316
|
—
|
|
FT Vest U.S. Equity
Enhance & Moderate
Buffer ETF - June
|
671,007
|
—
|
29,739,378
|
(801,510
)
|
771,869
|
2,453
|
29,712,190
|
—
|
|
FT Vest U.S. Equity
Moderate Buffer ETF -
June
|
545,882
|
—
|
22,190,921
|
(598,882
)
|
816,396
|
2,641
|
22,411,076
|
—
|
|
FT Vest U.S. Equity
Enhance & Moderate
Buffer ETF - July
|
528,374
|
—
|
21,198,599
|
(571,873
)
|
796,571
|
2,269
|
21,425,566
|
—
|
|
FT Vest U.S. Equity
Enhance & Moderate
Buffer ETF - August
|
471,193
|
—
|
18,057,569
|
(487,389
)
|
761,713
|
2,227
|
18,334,120
|
—
|
|
FT Vest U.S. Equity
Enhance & Moderate
Buffer ETF -
September
|
351,083
|
19,483,647
|
20,898,766
|
(25,584,862
)
|
(267,579
)
|
1,000,219
|
15,530,191
|
—
|
|
FT Vest U.S. Equity
Enhance & Moderate
Buffer ETF - October
|
—
|
15,115,007
|
4,450,930
|
(19,670,328
)
|
(395,824
)
|
500,215
|
—
|
—
|
|
FT Vest U.S. Equity
Enhance & Moderate
Buffer ETF -
December
|
—
|
—
|
23,441,207
|
(23,908,044
)
|
—
|
466,837
|
—
|
—
|
|
|
|
$127,094,197
|
$435,648,974
|
$(428,662,225
)
|
$1,076,520
|
$9,689,579
|
$144,847,045
|
$—
|
|
Shares
|
Description
|
Value
|
|||
|
EXCHANGE-TRADED FUNDS — 100.0%
|
|||||
|
|
Capital Markets (a) — 100.0%
|
|
|||
|
828,694
|
FT Vest U.S. Equity Buffer ETF
- January (b)
|
$45,739,765
|
|||
|
752,318
|
FT Vest U.S. Equity Buffer ETF
- February (b)
|
45,951,433
|
|||
|
843,438
|
FT Vest U.S. Equity Buffer ETF
- March (b)
|
44,086,504
|
|||
|
778,845
|
FT Vest U.S. Equity Buffer ETF
- September (b)
|
42,836,475
|
|||
|
838,691
|
FT Vest U.S. Equity Buffer ETF
- October (b)
|
43,871,926
|
|||
|
765,804
|
FT Vest U.S. Equity Buffer ETF
- November (b)
|
44,722,954
|
|||
|
827,378
|
FT Vest U.S. Equity Buffer ETF
- December (b)
|
45,079,277
|
|||
|
|
Total Exchange-Traded Funds
|
312,288,334
|
|||
|
|
(Cost $284,779,438)
|
|
|||
|
MONEY MARKET FUNDS — 0.0%
|
|||||
|
101,380
|
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
3.49% (c)
|
101,380
|
|||
|
|
(Cost $101,380)
|
|
|||
|
|
|||||
|
|
|||||
|
|
Total Investments — 100.0%
|
312,389,714
|
|||
|
|
(Cost $284,880,818)
|
|
|||
|
|
Net Other Assets and
Liabilities — (0.0)%
|
(51,853
)
|
|||
|
|
Net Assets — 100.0%
|
$312,337,861
|
|||
|
(a)
|
Represents investments in affiliated funds.
|
|
(b)
|
Non-income producing security.
|
|
(c)
|
Rate shown reflects yield as of May 31, 2026.
|
|
|
Total
Value at
5/31/2026
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Exchange-Traded
Funds*
|
$312,288,334
|
$312,288,334
|
$—
|
$—
|
|
Money Market Funds
|
101,380
|
101,380
|
—
|
—
|
|
Total Investments
|
$312,389,714
|
$312,389,714
|
$—
|
$—
|
|
*
|
See Portfolio of Investments for industry breakout.
|
|
Security Name
|
Shares at
5/31/2026
|
Value at
8/31/2025
|
Purchases
|
Sales
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Realized
Gain
(Loss)
|
Value at
5/31/2026
|
Dividend
Income
|
|
FT Vest U.S. Equity
Buffer ETF - January
|
828,694
|
$39,881,483
|
$81,059,697
|
$(81,030,849
)
|
$357,217
|
$5,472,217
|
$45,739,765
|
$—
|
|
FT Vest U.S. Equity
Buffer ETF -
February
|
752,318
|
40,327,205
|
81,494,826
|
(81,534,418
)
|
357,849
|
5,305,971
|
45,951,433
|
—
|
|
FT Vest U.S. Equity
Buffer ETF - March
|
843,438
|
—
|
42,296,787
|
(1,188,398
)
|
2,947,304
|
30,811
|
44,086,504
|
—
|
|
FT Vest U.S. Equity
Buffer ETF - May
|
—
|
39,610,357
|
18,246,119
|
(58,282,585
)
|
(1,454,337
)
|
1,880,446
|
—
|
—
|
|
FT Vest U.S. Equity
Buffer ETF - July
|
—
|
—
|
64,075,765
|
(64,693,591
)
|
—
|
617,826
|
—
|
—
|
|
FT Vest U.S. Equity
Buffer ETF - August
|
—
|
—
|
67,104,473
|
(67,657,380
)
|
—
|
552,907
|
—
|
—
|
|
FT Vest U.S. Equity
Buffer ETF -
September
|
778,845
|
40,257,576
|
43,399,010
|
(45,170,673
)
|
3,706,738
|
643,824
|
42,836,475
|
—
|
|
FT Vest U.S. Equity
Moderate Buffer ETF
- September
|
—
|
—
|
55,223,499
|
(56,236,231
)
|
—
|
1,012,732
|
—
|
—
|
|
FT Vest U.S. Equity
Buffer ETF - October
|
838,691
|
40,008,367
|
65,900,633
|
(65,251,044
)
|
697,037
|
2,516,933
|
43,871,926
|
—
|
|
FT Vest U.S. Equity
Buffer ETF -
November
|
765,804
|
40,201,576
|
66,562,800
|
(65,041,971
)
|
779,364
|
2,221,185
|
44,722,954
|
—
|
|
FT Vest U.S. Equity
Buffer ETF -
December
|
827,378
|
40,478,155
|
40,574,072
|
(41,069,359
)
|
4,645,366
|
451,043
|
45,079,277
|
—
|
|
FT Vest U.S. Equity
Moderate Buffer ETF
- December
|
—
|
—
|
38,447,435
|
(37,674,947
)
|
—
|
(772,488
)
|
—
|
—
|
|
|
|
$280,764,719
|
$664,385,116
|
$(664,831,446
)
|
$12,036,538
|
$19,933,407
|
$312,288,334
|
$—
|